Rostelecom’s net profit under IFRS for 2023 increased by 20% – Kommersant
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At the end of 2023, Rostelecom’s net profit (MOEX: RTKM) according to international financial reporting standards (IFRS) increased by 20% compared to the previous year and amounted to 42.3 billion rubles, follows from the data report companies. Rostelecom’s revenue increased by 13% to RUB 707.8 billion.
At the end of 2023, 234.9 billion rubles. Of the company’s total revenue, the mobile communication service came from it, which is 13% more than the same figure a year earlier. In 2nd place is the provision of the Internet: 101.9 billion rubles, which is 5% more than in 2022. Revenue from VPN provision increased by 11% to RUB 39 billion. Revenue from home telephone services, on the contrary, decreased by 6% to RUB 42.1 billion.
The results of the external audit of Rostelecom indicate that the company’s capital investments increased by 26%, to 147.2 billion rubles, amounting to 20.8% of revenue. Operating profit before depreciation and amortization OIBDA for the same period increased by 13%, to RUB 283.2 billion, and OIBDA margin was 40% versus 40.1% for 2022. The external audit also took into account the performance of Rostelecom subsidiaries.
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